19 December 2017

Iraq Overtakes Saudi Arabia as Top Oil Supplier to India

Iraq Overtakes Saudi Arabia as Top Oil Supplier to India

Iraq has overtaken Saudi Arabia for the first time to become India's top crude oil supplier in the current fiscal, according to the Oil Minister Dharmendra Pradhan. Saudi Arabia traditionally has been India's top oil source but in the April-October period of 2017-18, Iraq dethroned it, supplying 25.8 million tonnes (MT) of oil. Iran was India's second biggest supplier of crude oil after Saudi Arabia till 2010-11 but western sanctions over its suspected nuclear programme relegated it to the 7th spot in the subsequent years.